Question
Consider the following statements regarding territorial
jurisdiction and applicability of Competition Act: Statement 1: Competition Act applies only to conducts affecting Indian markets. Statement 2: Foreign entities conducting anticompetitive conduct affecting India are subject to the Act. Statement 3: Mergers involving foreign entities with operations in India require CCI approval. Statement 4: Competition Act has extraterritorial application to the extent conduct affects Indian commerce. Which statements are correct?Solution
Act applies to Indian market conduct—Statement 1 is correct. Foreign entities are covered if conduct affects India—Statement 2 is correct. Foreign mergers with Indian impact require approval—Statement 3 is correct. Extraterritorial application exists—Statement 4 is correct. All statements are correct.
Name the first life insurance company to function in India?
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